UNSC unanimously adopt resolution to cut-off supply of funds to IS group

United Nations Security Council (UNSC) has unanimously adopted resolution cut off supply of revenue flows to Islamic State (IS) militant group.

Decision in this regard was taken at the first-ever meeting of finance ministers of 15 member states to support a diplomatic push to end the war in Syria.

Key facts

The resolution has been drafted by United States and Russia, calls on governments to ensure that they have adopted laws to make the financing of IS a serious criminal offence.

It also calls for enhanced actions against from closing financial system loopholes to stopping the abuse of charitable causes.

It stressed that already existing resolution mandating member states to ensure that financial assets are not transferred to terrorists by persons within their territory.

Called for increased international cooperation in sharing information and closer collaboration with the private sector to identify suspect transactions.

The UNSC also called on Member States to promote enhanced vigilance by persons within their jurisdiction to detect any diversion of explosives, raw materials and components that can be used to manufacture improvised explosive devices or unconventional weapons.